Artificial Intelligence in Life Sciences Market-Growth, Trends, and Forecast (2019-2024)

Market Overview Artificial Intelligence in Life Sciences Market was valued at USD 902.1 million is expected to grow at a CAGR of over 21.1% during the forecast period (2019-2024). Although artificial intelligence has been in the market in the late 1950s, the technology has become commercially accessible in the past few years. The primary reason for this accelerated growth in recent years is the massive availability of data in the life sciences sector. As AI operates on large sets of data, the availability of such data becomes a key factor for establishing a suitable environment for the growth of AI-based solutions. With innovations in mobile technology and sensors, even the present day's wearables like smartwatches and fitness trackers, have enough computing power to generate and process vast amounts of data.